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Vertex Pharmaceuticals and Tibotec Pharmaceuticals, a Johnson & Johnson Company, Announce Plans for Global Health Initiative to Increase Worldwide Prevention, Diagnosis and Treatment of HCV
Vertex Pharmaceuticals and Tibotec Pharmaceuticals, a Johnson & Johnson Company, Announce Plans for Global Health Initiative to Increase Worldwide Prevention, Diagnosis and Treatment of HCV.
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[{"type":"text","content":"\n\n\n\n\nCAMBRIDGE, Mass. and NEW BRUNSWICK, N.J., June 30 /CNW/\n-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and Tibotec\nPharmaceuticals, Ltd., a Johnson & Johnson (NYSE: JNJ) company, announced\ntoday that the companies will establish a global health initiative to increase\nthe prevention, diagnosis, treatment and cure of hepatitis C virus (HCV)\ninfection to be principally directed toward developing countries. The\ninitiative is part of an agreement between Vertex and Janssen Pharmaceutica,\nN.V., another Johnson & Johnson company, and its affiliates, for the\ndevelopment and commercialization of VX-950, Vertex's investigational HCV\nprotease inhibitor, in Europe and other territories, as announced today in a\nseparate press release. This initiative will be financially supported by\nVertex and Tibotec following regulatory approval and commercialization of VX-\n950.\n\"Hepatitis C virus infection represents a significant public health\nconcern around the world, including developing countries that have\ninsufficient resources to diagnose and treat the disease,\" said Joshua Boger,\nPresident and Chief Executive Officer of Vertex. \"An estimated 170 million\npeople are infected with HCV worldwide, however only a fraction of those\npatients are diagnosed and even fewer are treated. We look forward to working\nwith Tibotec to bring therapies to nations where the prospects for diagnosis\nand treatment are limited.\"\n\"Together with Vertex, we are seeking to establish an initiative that will\npromote prevention, diagnosis and treatment of chronic hepatitis C,\" said\nJoseph Scodari, Worldwide Chairman, Pharmaceuticals Group of Johnson &\nJohnson.\n\nVX-950 Collaboration\nVertex and Janssen and its affiliates announced today in a separate press\nrelease the formation of a collaboration to develop and commercialize VX-950\nin Europe and other territories. Vertex will continue to lead the global\ndevelopment plan of VX-950 and retains the exclusive right to develop and\ncommercialize the compound in North America.\n\nAbout Hepatitis C\nHepatitis C is a liver disease caused by the infection by hepatitis C\nvirus (HCV), which is found in the blood of people with the disease. HCV, a\nserious public health concern affecting 170 million people worldwide, is\nspread through direct contact with the blood of an infecte...